Phoenix City Employees Retirement System hired active international...

Phoenix City Employees Retirement System hired active international equity managers Grantham, Mayo, van Otterloo to run $80 million in value and Fidelity Investments to handle $80 million in growth, subject to contract negotiations, according to Ray Servin, plan spokesman. Funding comes from terminating Bank of Ireland Asset Management, which ran $160 million in active international equities. The board of the $1.2 billion fund in February decided to drop BIAM due to concerns over performance and organizational changes, said Mr. Servin. Calls to BIAM were not returned by press time.